Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in MDU held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 25.7M | $532.8M | -2.0% | 12.302% | 0.01% |
| 2 | BARROW HANLEY MEWHINNEY & STRAUSS LLC | 13.8M | $285.1M | +6.7% | 6.584% | 0.93% |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 12.5M | $259.6M | — | 5.994% | 0.01% |
| 4 | DIMENSIONAL FUND ADVISORS LP | 10.3M | $213.1M | +2.5% | 4.921% | 0.04% |
| 5 | EARNEST PARTNERS LLC | 9.9M | $204.8M | -0.7% | 4.728% | 0.84% |
| 6 | VANGUARD CAPITAL MANAGEMENT LLC | 9.1M | $189.5M | — | 4.377% | 0.00% |
| 7 | STATE STREET CORP | 7.0M | $145.8M | -1.8% | 3.345% | 0.01% |
| 8 | BANK OF AMERICA CORP /DE/ | 6.2M | $128.5M | +1.6% | 2.968% | 0.01% |
| 9 | SEI INVESTMENTS CO | 5.3M | $109.0M | -1.2% | 2.517% | 0.10% |
| 10 | MORGAN STANLEY | 4.2M | $87.5M | +5.2% | 2.020% | 0.01% |
| 11 | River Road Asset Management, LLC | 4.1M | $84.5M | -13.4% | 1.951% | 0.96% |
| 12 | WESTWOOD HOLDINGS GROUP INC | 3.5M | $73.4M | +102.1% | 1.695% | 0.53% |
| 13 | GEODE CAPITAL MANAGEMENT, LLC | 3.5M | $72.4M | +2.2% | 1.671% | 0.00% |
| 14 | NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | 2.6M | $53.8M | -13.6% | 1.242% | 0.09% |
| 15 | VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | 2.5M | $52.5M | — | 1.211% | 0.53% |
| 16 | FRONTIER CAPITAL MANAGEMENT CO LLC | 2.5M | $51.9M | -4.2% | 1.199% | 0.53% |
| 17 | Bank of New York Mellon Corp | 2.4M | $49.0M | -3.2% | 1.131% | 0.01% |
| 18 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 2.3M | $46.9M | +2.6% | 1.083% | 0.01% |
| 19 | Invesco Ltd. | 1.9M | $39.0M | -3.2% | 0.900% | 0.01% |
| 20 | MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 1.8M | $37.3M | +12.0% | 0.862% | 0.05% |
| 21 | UBS Group AG | 1.7M | $35.4M | +9.2% | 0.817% | 0.01% |
| 22 | US BANCORP \DE\ | 1.7M | $35.1M | -0.4% | 0.809% | 0.04% |
| 23 | HITE Hedge Asset Management LLC | 1.6M | $32.1M | +124.6% | 0.742% | 1.81% |
| 24 | NORTHERN TRUST CORP | 1.5M | $31.8M | +2.9% | 0.734% | 0.00% |
| 25 | Allspring Global Investments Holdings, LLC | 1.5M | $31.1M | -7.6% | 0.708% | 0.05% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in MDU — a direct measure of their conviction.
Filings activity in MDU during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 410 | +0.7% | 85.76% | +3.06 pp | $3.78B | +3.7% |
| Q4 2025 | 407 | +2.0% | 82.70% | +18.97 pp | $3.65B | +30% |
| Q3 2025 | 399 | 0.3% | 63.73% | +4.60 pp | $2.81B | +7.8% |
| Q2 2025 | 400 | +1.0% | 59.13% | 2.26 pp | $2.61B | 3.7% |
| Q1 2025 | 396 | +1.3% | 61.39% | 3.67 pp | $2.71B | 5.6% |
| Q4 2024 | 391 | 0.8% | 65.06% | 25.23 pp | $2.87B | 28% |
| Q3 2024 | 394 | +3.7% | 90.29% | 0.96 pp | $3.98B | 1.1% |
| Q2 2024 | 380 | — | 91.25% | — | $4.03B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying MDU stock.
Based on Q1 2026 13F filings, institutional ownership of MDU Resources Group, Inc. stands at 85.8%, held across 410 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of MDU, with approximately 25,712,048 shares worth $0.53B as of Q1 2026.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of MDU.
Our composite Smart Money Score for MDU is 47 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
60 institutions opened new positions in MDU during Q1 2026, while 57 fully exited. 291 added to existing positions and 57 trimmed.
MDU institutional ownership rose by 3.06 percentage points quarter-over-quarter, with a net change of +3 holders.
The top 10 institutions account for 57.0% of all reported 13F value in MDU, and the top 25 account for 76.2%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
MDU Resources Group, Inc. (MDU) Institutional Ownership